Tuesday 08 October 2019 10:18 am | Updated: Tuesday 08 October 2019 10:30 am

Bank of England governor appointment ‘on track’, says chancellor Sajid Javid

MANCHESTER, ENGLAND – JULY 15: The Governor of the Bank of England, Mark Carney reveals Alan Turing as the new figure to be depicted on the 50 GBP note at the Manchester Science and Industry Museum on July 15, 2019 in Manchester, England. The general public were asked to ‘Think Science’ and nominate characters from the field of science for the next £50. Turing was selected from over 200,000 nominations for nearly 1000 eligible scientists. (Photo by Christopher Furlong/Getty Images)

Chancellor Sajid Javid has stressed plans to appoint a new Bank of England governor are still “on track”, despite resources being redeployed towards Brexit planning.

Javid has written to the Treasury Select Committee – which is still without a chair after Nicky Morgan entered government this summer – to reassure MPs that a new head would be appointed before Mark Carney steps down.

Carney is due to finish his term on 31 January. The process to appoint his successor began under Philip Hammond, with applications open until early June.

In a letter to interim TSC chair Catherine McKinnell, Javid said: “You asked for an update on this important recruitment process. It is on track. In terms of the appointment itself, we will make an announcement in due course, ahead of the start of the next governor’s term on 1 February 2020.”

In response, McKinnell said: “As the Treasury Committee has a vital role to play in scrutinising this appointment, the chancellor’s assurance that we will have the opportunity and time to scrutinise the successful candidate before they take up their role is welcome.”

Main image: Getty